DDA to offer 12,000 Apartments under New Scheme

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According to Udai Pratap Singh, vice-chairman, DDA announced that DDA will be launching the housing scheme on June 30. To assist a large number of people avail subsidy on interest, this scheme is being floated under the PMAY- Pradhan Mantri Awas Yojana.

New Delhi, 17th July 2017: The Delhi Development Authority (DDA) will be launching its much-awaited housing scheme on June 30. Approximately 12,000-plus Apartments will be up for sale. Majority of the chunk in these apartments were returned by allot tees of a 2014 housing scheme.

According to Udai Pratap Singh, vice-chairman, DDA announced that DDA will be launching the housing scheme on June 30. To assist a large number of people avail subsidy on interest, this scheme is being floated under the PMAY- Pradhan Mantri Awas Yojana.

As per the location and type, the cost of the apartment varies from INR 7.5 lakh to INR 1.44 crore. Most of the 12000 plus flats fall under the LIG one-bedroom category.

To ensure that only genuine flat buyers are attracted to this offer this time DDA has put a clause. DDA has determined to impose a penalty ranging from 25% to 100% of the earnest money. The draw of lots for allotment will be done within 3 months from the last date of submission of forms.

One has to pay INR 2 lakh for MIG HIG flats and INR 1 lakh for LIG as earnest money. No fine will be imposed on the earnest money if an applicant leaves before the draw of lots. However, one has to part with 25% of the amount if he/she surrenders the flats within 90 days after the draw of lots.

In case one surrenders within 3 months of issue of the demand letter, then he/she will lose 50% of the earnest money. And, beyond this, there would be no exemption.

Author: Akash Singh

Akash Singh is a passionate free lance writer based in Noida. He’s designed the content for various reputed online financial and real estate portals. He has completed his Bachelor’s in Management from Mumbai University and has earned his MBA International Business (HR) Degree from prestigious Amity University. He loves to invest his time in the laps of nature, and enjoys life to the fullest.